Welcome to a rare opportunity in the highly sought-after Oakfield community on Johns Island. This spacious three-story home is one of only a select few in the neighborhood offering an unfinished third floor, creating a unique opportunity to design and build out a space tailored entirely to your lifestyle. Whether you envision a home office, media room, additional living area, guest suite, or playroom, this level offers exceptional flexibility and future potential all at your fingertips!The main living floor is thoughtfully designed with both comfort and functionality in mind, featuring engineered hardwood flooring, a full bedroom and full bathroom, ideal for guests or multi-generational living, and a versatile front flex space perfect for aformal dining room or home office. Entertaining guests is a breeze with the open and spacious downstairs living area along with the kitchen island that offers extra seating and counter space. A bright sunroom anchors the rear of the home, offering a tranquil pond view and an inviting setting for everyday living. Upstairs, you'll find four additional bedrooms and two full bathrooms, including a spacious primary suite highlighted by tray ceilings, updated fixtures, walk-in closet, and a well-appointed en-suite bath. The secondary bathroom is highlighted by the newly tiled floor and vanity. Set on a picturesque pond lot, the front yard is framed by a beautiful grand oak tree, creating a peaceful Lowcountry backdrop. Enjoy quiet mornings on the covered front porch or unwind in the evenings while taking in the natural surroundings of all the island has to offer. Oakfield provides fun for all its residents and guests with a resort style pool, cornhole, putting green, horseshoes, and multiple playgrounds. Located in the heart of Johns Island, this home offers convenient access to the rapidly expanding Maybank corridor, home to popular dining destinations such as Lost Isle, Royal Tern, and Wild Olive. Nearby attractions include Sea Island Mini Golf, as well as continued growth from Low Tide Brewing and their new and upcoming 9 acre brewing facility, along Estuary Beans and Barley and many more attractions. You're also just a 20 minute drive to Folly Beach, Beachwalker Park, and James Island County Park, and downtown Charleston, offering easy access to some of the area's best outdoor recreation. With its rare three-story design, flexible layout, and prime location, this home presents a standout opportunity to enjoy the very best of Johns Island living--while adding your own vision and value over time. This home also features an assumable mortgage with a 2.25% rate.
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
